Estate and Elder Law

Recent Posts

Primary Tax Considerations in Planning for Succession to Family Homes
Posted on 9 Aug 2010 by Nancy G. Henderson

Estate planning for the succession to family properties requires careful consideration of a number of complicated, and sometimes conflicting, tax laws. In this Analysis, Nancy G. Henderson discusses primary tax considerations in estate planning for... Read More

Tax Court Memo 2010-104: A New IRS Tool for Valuing Gifts of Undivided Interests in Real Property
Posted on 21 Jun 2010 by Genevieve M. Moore, Esq.

A recent Tax Court decision has caught the attention of estate planners and appraisers because of its implications for gifts of undivided interests in real property. The case at issue is Ludwick v. Comm'r, T.C. Memo 2010-104 (May 10, 2010) . In... Read More

The Temporary Repeal of the Federal Estate Tax And Its Effect On Estate Planning
Posted on 1 Feb 2010 by Genevieve M. Moore, Esq.

As the New Year arrived on January 1 with confetti and champagne, so did a very significant change in U.S. tax law: the temporary repeal of the federal estate tax laws. Although some would see repeal as another cause for celebration, for many it will... Read More

Tags: Taxes

Ballard Spahr LLP: IRS Announces that Gifts to Single-Member LLCs Owned by Charitable Organizations Are Deductible
Posted on 16 Aug 2012 by Ballard Spahr LLP

By Jean C. Hemphill and Christopher A. Jones The IRS has published welcome, long-awaited guidance regarding the deductibility of contributions made to a single-member limited liability company (LLC) owned by a charitable organization. For a variety... Read More

Executors Held Personally Liable for Unpaid Taxes
Posted on 3 Apr 2012 by Gregory Herman-Giddens

In a recent federal District Court case, the co-executors of a decedent's estate were held to be personally liable for the decedents unpaid income taxes under the federal priority statute because they distributed assets of the estate, the distribution... Read More

Beneficiary and Fiduciary Liability for Income, Gift and Estate Taxes
Posted on 19 Nov 2009 by Marc Soss

It can be either a blessing or a curse to be appointed as the Personal Representative of an estate or Trustee of a trust (collectively a “Fiduciary”). One of the most over looked aspects of the job is the fact that the U.S. Government has... Read More

Tags: Taxes

New Federal Tax Legislation Impacting Florida Estate Planning
Posted on 29 Apr 2010 by Marc Soss

The months of March and April 2010 have brought new tax legislation that increases Federal taxes on both high and lower income taxpayers. The following is a brief overview of the new tax provisions and potential future legislation which would adversely... Read More

Ten Tips for Taxpayers Making Charitable Donations - IRS Summertime Tax Tip 2010-21
Posted on 26 Aug 2010 by LexisNexis Estate and Elder Law Community Staff

From IRS.gov : Did you make a donation to a charity this year? If so, you may be able to take a deduction for it on your 2010 tax return. Here are the top 10 things the IRS wants every taxpayer to know before deducting charitable donations. 1... Read More

Permanent Estate Tax Bill Placed On Calendar in Senate; States May Be Trying to Head Off Expected Problems
Posted on 8 Feb 2010 by Alice Magdziak

On January 20, 2010, the Senate read H.R. 4154 for the second time and placed it on the Calendar as Number 253. The Permanent Estate Tax Relief for Families, Farmers, and Small Businesses Bill of 2009 would permanently extend the estate tax at 2009 exemption... Read More

Tags: Taxes

2010 Estate Tax Repeal: A Time to Reach Out To Your Clients
Posted on 26 Jan 2010 by David R. Schoenhaar

David R. Schoenhaar, Esq., Ruskin Moscou Faltischek As of January 1, 2010, there is no estate or generation skipping tax (GST), the gift tax remains with a million dollar exemption but at a rate of 35%, and carry over basis rules have been... Read More

Tags: Taxes

Year-End Tax Planning Tips
Posted on 14 Dec 2011 by Sandra L. Smith

With the holidays upon us, it's time to do some planning that can help reduce your tax bill this year. Contributing to your retirement plan is a fast and easy way to cut your taxes, while building your nest egg. The federal limit for 401(k) contributions... Read More

Estate Tax and Other Federal Tax Provisions Expiring on December 31st
Posted on 4 Jan 2010 by Alice Magdziak

The estate tax along with tax provisions like the annual alternative minimum tax patch, the deduction for state and local sales taxes, the $4,000 deduction for college tuition, a provision that allows taxpayers age 70-and-a-half or older to transfer up... Read More

Tags: Taxes

Primary Tax Considerations in Planning for Succession to Family Homes
Posted on 9 Aug 2010 by Nancy G. Henderson

Estate planning for the succession to family properties requires careful consideration of a number of complicated, and sometimes conflicting, tax laws. In this Analysis, Nancy G. Henderson discusses primary tax considerations in estate planning for family... Read More

States Struggle to Deal with Congress's Shameful Estate Tax Mess
Posted on 8 Feb 2010 by David A. Shulman

The Year Without an Estate Tax continues. As I have previously written, due to Congress's extreme irresponsibility and inability to get anything done at all, the Estate and Generation Skipping taxes are repealed in 2010, but for one year and one... Read More

Tags: Taxes

Personal Representative Liable for Unpaid Federal Income Taxes
Posted on 4 May 2012 by Marc J. Soss

The recent Pennsylvania District Court case of U.S. v. David A. Tyler and Louis J. Ruch [ enhanced version available to lexis.com subscribers ] is designed reminds estate executors ( Florida Personal Representatives ) that if they fail to do their job... Read More